Core Viewpoint - A class action lawsuit has been filed against Fly-E Group, Inc. for alleged securities fraud and unlawful business practices, following a significant decline in the company's net revenues attributed to recent lithium-battery accidents involving E-Bikes and E-Scooters [2]. Group 1: Lawsuit Details - The class action lawsuit concerns whether Fly-E and certain officers or directors engaged in securities fraud or other unlawful business practices [2]. - Investors have until November 7, 2025, to request the Court to appoint them as Lead Plaintiff if they purchased Fly-E securities during the Class Period [2]. Group 2: Financial Performance - On August 14, 2025, Fly-E reported a 32% decrease in net revenues for the first quarter of fiscal year 2026, primarily due to a decrease in total units sold [2]. - Following the revenue announcement, Fly-E's stock price plummeted by $6.76 per share, or 87.11%, closing at $1.00 per share on August 15, 2025 [2].
INVESTOR ALERT: Pomerantz Law Firm Reminds Investors with Losses on their Investment in Fly-E Group, Inc. of Class Action Lawsuit and Upcoming Deadlines - FLYE